Wynn Capital LLC Acquires Shares of 41,989 Wells Fargo & Company (NYSE:WFC)

Wynn Capital LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 41,989 shares of the financial services provider’s stock, valued at approximately $2,067,000. Wells Fargo & Company makes up 1.7% of Wynn Capital LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other large investors have also modified their holdings of WFC. Stoneridge Investment Partners LLC raised its stake in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares in the last quarter. United Services Automobile Association grew its position in Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the last quarter. Synovus Financial Corp grew its position in Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares during the last quarter. Trust Point Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $2,499,000. Finally, Golden State Equity Partners grew its position in Wells Fargo & Company by 98.8% during the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after purchasing an additional 30,316 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Raymond James upped their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.34 during trading hours on Wednesday, reaching $60.61. 19,723,388 shares of the company were exchanged, compared to its average volume of 19,057,547. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average is $56.37 and its 200-day moving average is $49.26. The firm has a market cap of $214.57 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.